The Following Government Policies Will Help Achieve Faster Economic Growth

question 96

Multiple Choice

The following government policies will help achieve faster economic growth EXCEPT

• A)increasing saving.
• B)discouraging saving and encouraging spending.
• C)establishing and protecting property rights.
• D)encouraging research and development.
• E)improving the quality of education.

---

Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price.

Own Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that same good, reflecting consumers' sensitivity to price changes.

First Law of Demand

The principle that there is an inverse relationship between the price of a good and the quantity demanded, all else being equal.

Quantity Demanded

The amount of a product that consumers are willing and able to purchase at a given price.